EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A descending movement downwards to the next support line at 1.61995 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.63070 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Evening Star’ candlestick chart pattern is existing. The chart shows ‘Evening Star’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.63070 |
| Current Price | 1.62208 |
| Next Low | 1.61995 |
| 2nd Low | 1.61689 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star